Please note that Traders Room has been discontinued and is no longer available. You can read our old review of Traders Room below, or check out the rest of the US Online Stock Trading Websites we've reviewed.
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TradersRoom is unique in this category as it is the only trading platform that caters for binary options. These are similar to normal options but offer a fixed return that is decided at the onset of the option. If this is the type of investment you are looking for you could do far worse than TradersRoom as it makes placing these types of trades very easy so that anyone can do it.
Signing up for an account at TradersRoom is very easy and there is no minimum balance you need to get started. However, we were slightly annoyed by the pressure you are put under to sign up when visiting the web site. It seems every second button links to the sign-up page and pop-up chat windows regularly appear to try and get you to chat to a customer representative. This isn't what we expect from a site offering a professional level of service, but on the plus side the web site is very intuitive and easy to use.
Once you have signed up you can begin placing trades using either the pro or the fast platform. Both are web based and largely similar, but the pro option displays more information beside each of the options you can trade. It is scarily simple to place a trade. So much so that it would be easy to lose a lot of money very quickly if you don't know what you are doing. However, for pure simplicity there isn't much that can beat TradersRoom. There are no mobile apps available, which was a slight disappointment as most online trading platforms offer them these days, but the web site will work via most mobile web browsers.
TradersRoom doesn't charge any commissions on trades, but the profit they make is taken from the returns offered on each option. This makes it difficult to compare prices with other similar sites as there is no specific percentage mentioned. This is a fair way to do things, but bear in mind TradersRoom offers little in the way of research or educational material – something that commissions go towards paying for on other sites. There are a couple of market reviews to read up on and historic data on the underlying assets of the options, but for any serious analysis you will have to look elsewhere.
TradersRoom is a very simple way of getting started trading binary options. It works very well for this and is very easy to use, but doesn't offer much in the way of helpful analysis or educational material to help you decide what to invest in. If you need more in-depth financial advice or want to be able to invest in a range of different products check out our top ten list for some of the best online trading platforms on the web.
Please note that Traders Room has now been discontinued.